Collecting Bitcoins to Use In a Transaction

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After acquiring a basic understanding of what bitcoin is and how the wallet really work, you really should get into the digital currency world and get some bitcoin for yourself. Thus the big question arrives to your mind: How do I get bitcoins?

Becoming difficult.

After you get the understanding of the origin of each single bitcoin, which is predicated on a mining process, you’ll believe that the best way to get them is by joining this mining process. The thing is, this has become very hard, because the fast popularity grow of the crypto currency.

Sell products or services.

Every single bitcoin comes as the consequence of a previous transaction. Thus, the way to get them, when you haven’t any, is by receiving a transaction from someone else, once you purchase them using cash or also by mining new bitcoins.

When you know a person, who uses bitcoins, it is possible to ask him/her to obtain bitcoins. In case you have no idea anyone who posses them, you can get bitcoins by offering a different type of transaction with yet another bitcoin user, resulting you getting paid in bitcoins. The alternative option is by mining them yourself.

Mining.

In case you cannot purchase bitcoin from another person, you can obtain them by mining them. The term mining here means: solving a complex mathematical problem, which intention is to validate other individuals transactions. In return you’re awarded with bitcoins. Receiving bitcoins is sometimes free, but a fee could be included for sending them, it depends on the online platform you utilize. Before engaging in mining bitcoins, you need to understand, that it’s no easy solution to get bitcoins, it requires some tech knowledge, which may not be practical for you personally.

Buy.

In case, you don’t know anyone who posses bitcoins, you don’t have anything to sell to switch for bitcoins, there’s a solution to buy bitcoins. There’re several online platforms, these sell bitcoins by way of a process called trading/exchanging. Here I list some ways you can purchase bitcoins:

Buy bitcoins from the person.

There are online marketplaces where you could buy bitcoins in a person-to-person scheme. It is possible to pay these individuals with cash or by other ways. The nice think is that you and owner can arrange the payment method: profit person, cash by deposit, bank wire, PayPal, etc. The key element here is to find someone trustworthy. A good tip is using an escrow online service, in this manner you can protect yourself against any type of fraud. The great thing about these online escrow platform, is that everyone should upload their scanned ID, this guarantees security during the transactions.

Buy bitcoins from an exchange and outlet.

Bitcoin exchanges or outlets are basically online services which make it easier for buyers and seller to accomplish bitcoins transactions. To participate equipment of these, all you need is to create a merchant account and get your identity verification before you buy or sell bitcoins.

Buy bitcoins through an ATM.

Some cities all over the world offer physical bitcoin ATMs. You merely get your bitcoins through them using local fiat currency. Governments regulate the uses of the ATMs for security purposes. Sometimes finding a bitcoin ATM near where you are could be difficult, because even the positioning where these are installed is regulated.

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